Tomas Rosicky’s goal midway through the second half left QPR facing the prospect of a 10th consecutive away defeat.Trailing to Alexis’ Sanchez’s first-half goal, Rangers were given a boost when Arsenal forward Olivier Giroud was sent off on 53 minutes after appearing to headbutt Nedum Onuoha.But the Gunners remained in control and doubled their lead courtesy of a low shot from Rosicky after he had been set up by Sanchez.Sanchez atoned for a penalty miss by putting Arsenal ahead in a one-sided first half at the Emirates Stadium.QPR had an early let-off when Sanchez’s woeful spot-kick was easily kept out by keeper Rob Green after Armand Traore, playing against his former club, had brought down the Arsenal man.But Sanchez made no mistake eight minutes before the break when he headed in after being found unmarked by Kieran Gibbs’ cross.That lapse came after Rangers, beaten in all nine of their away matches this season, had defended well.They reverted back to three central defenders, with Rio Ferdinand recalled to the starting line-up while Traore was given a chance to impress at left wing-back in the absence of the injured Yun Suk-Young.Traore performed poorly though and his team have been second best even since Arsenal were reduced to 10 men.Rangers boss Harry Redknapp made a double change shortly after the hour mark, replacing Traore and Karl Henry with Junior Hoilett and Leroy Fer.However, two minutes later the visitors fell further behind and look set for yet another loss on the road. QPR: Green; Onuoha, Ferdinand, Caulker, Isla, Henry (Fer 63), Mutch, Kranjcar, Traore (Hoilett 63), Vargas, Austin.Subs: McCarthy, Hill, Phillips, Wright-Phillips, Zamora.Follow West London Sport on TwitterFind us on Facebook
Look into Dr Bergman’s many books, including his recent release, C.S. Lewis: Anti-Darwinist: A Careful Examination of the Development of His Views on Darwinism.(Visited 717 times, 1 visits today)FacebookTwitterPinterestSave分享0 by Dr Jerry BergmanIt has long been believed that the sperm tail is a very simple structure, mostly a tail that wags to propel the sperm forward to reach the egg. Textbooks pictured this structure as a simple string like filament much thinner than a human hair. It was observed that the sperm tail produced harmonic bending waves, thus they were said to cause the sperm to swim like a tadpole. The bigger question then was, what was in the sperm head?Ideas about how sperm cells work date from their discovery by Leeuwenhoek in the 17th century. It was once widely believed that there exists a little person inside of every sperm cell head that traveled to the mother’s womb. The womb’s only role was to feed the child as it grew into a baby. This view was called preformationism. Another preformationist idea held that it was the egg that contained a little person that would begin to grow into a baby once the sperm initiated conception.Preformationist view vs modern structural discoveriesWhen it was recognized that the formation of a child required both a sperm (the smallest cell in the body) and an egg (the largest cell in the body), it was realized that reproduction was far more complex than once thought. Next, the parts of the sperm were studied. Researchers observed that the head contained mostly 23 haploid chromosomes. The first part of the tail, they found, contained mitochondria, the powerhouses of the cell that produce ATP. The rest of the tail consisted of a long thread-like structure. That ‘simple’ thread, the tail, is at last now being revealed by more detailed observations, and it turns out to be amazingly complex!Research around 1968 proved that the sperm tail—properly called a flagellum—consists of a complex system of sliding filaments that are connected by elastic springs resembling cylinder-like structures. The cross-linked filament bundles, found both in cilia and flagella, are ubiquitous in life. Scientists also found evidence that this system contains a scaffold, the function of which is to enable the sperm to swim in the hostile environment necessary to reach the egg in the Fallopian tube. It was also discovered that the basic sperm tail design is very similar in most animal species. No evidence was found for it having evolved from a simple structure in primitive animals to a complex structure in higher animals.The Latest WiggleNew research published in 2017 has discovered that the tail system is far more complex than thought 50 years ago. The front design is vital to transmit information to distant parts of the tail to enable it to function as an effective unit for steering and propelling the sperm to its end goal.[i] The system works by complex elasto-hydrodynamics that we can only briefly outline here. Each tail is programmed to produce slightly different movements in order for the sperm to reach the egg. Scientists learned some of the details of this system partly by physically moving parts of dead sperm tails and designing mathematical models of the motion.Any one movement in this complex sequence appears to be able to trigger motion right through to the distant parts of the tail.One mechanism is counter-bending of a passive flagellum that instigates a compensatory counter-curvature in the section that it is connected to.[ii] The researchers found that movement, which begins near the sperm’s head, is transmitted along the interconnected system, creating controlled oscillatory movement along the tail’s full length.[iii] The tail “utilizes interconnected elastic spring structures to transmit mechanical information from the front to the distant parts of the tail, helping it to bend appropriately and ultimately swim toward an egg.”[iv]The sections within the tail communicate by sensing the front of the tail near the section that contains the mitochondria. Each section in turn responds to information in front of it to synchronize their motions. The sperm tail mechanism first creates a sliding motion between the filaments inside the cylindrically arranged structure, producing the tail bending. Movement in this complex sequence triggers motion down to the distant parts of the tail. Even with these revelations, researchers are only beginning to understand what goes on. Phys.org says,“The mechanism of a sperm tail first creates a sliding motion between filaments, inside this cylindrically arranged structure, finally resulting in a tail bending, a bit like the piston that converts back and forth motion in to [sic] rotation of the wheel on a train. Any one movement in this complex sequence appears to be able to trigger motion right through to the distant parts of the tail.“The big question now is, are particular springs in the tail coupled-up to transmit specific biomechanical information, and just [do] these ‘rowers’ self-organize?It turns out that the design of the sperm tail is just as complex as the design of the bacteria flagellum, which is well known to Darwin skeptics as an icon of intelligent design. Both are complex well-designed structures, one located on a so-called simple primitive organism, and the other on the sperm of the most complex organism known, namely humans.This example illustrates a trend in biology. When structures do not seem very difficult to evolve, further research shows them to be far more complex and, consequently, much more difficult to explain by unguided evolution. What appear to be simple structures, such as sperm tails, on further investigation are shown to be far more complex, requiring a good understanding of biomechanics, especially elasto-hydrodynamics.If Darwin were alive today, would he still try to explain such complex phenomena with his theory of gradual transmutation via natural selection? In 1859, when he suggested that all life was the result of slow, gradual variations (now thought to come from genetic mistakes), he could not have known the intricacies of sexual reproduction down to the tip of a sperm tail. Those who know today have no such excuse.[i] “The mechanical properties of sperm tails revealed,” https://phys.org/news/2017-05-mechanical-properties-sperm-tails-revealed.html[ii] Coy, Rachel and Hermes Gadêlha. 2017. The counterbend dynamics of cross-linked filament bundles and flagella, Journal of the Royal Society Interface. 14(130):1-10. May 31.rsif.royalsocietypublishing.org/lookup/doi/10.1098/rsif.2017.0065[iii] Phys.org, Ibid.[iv] Phys.org, Ibid.Dr Jerry Bergman, professor, author, and speaker, is a frequent contributor to Creation-Evolution Headlines. See all his posts on his Author Profile page.
Around 62% voters exercised their franchise in the elections to Haryana’s five municipal corporations of Hisar, Rohtak, Panipat, Karnal and Yamunanagar on Sunday. The elections to two municipal committees were also held in the State. The counting of votes will be taken up on December 19.Yamunanagar recorded the highest 65.2% turnout followed by Hisar (62.7), Rohtak (62.4), Panipat (62) and Karnal (61.8) as per the State Election Commission website. The municipal committees of Jakhal Mandi (Fatehabad) and Pundri (Kaithal) recorded 89.5% and 82.1% turnout respectively.The keenly fought corporation polls for direct election to the positions of Mayors for the first time in Haryana hold great significance for the regional and State politics and could be the reflection of the electorate’s mood in the State in the run-up to the Lok Sabha and Vidhan Sabha elections due next year.Though the Congress has officially stayed out of the contest for the municipal bodies as a policy matter, the Independent Mayoral candidates supported by the local Congress leaders are locked in an intense direct electoral battle with the ruling Bharatiya Janata Party candidates in all the five corporations. Fought on the home turfs of incumbent Chief Minister Manohar Lal Khattar and two-time former Congress Chief Minister Bhupinder Singh Hooda, the contests for the positions of Mayors in Karnal and Rohtak respectively have turned into prestige battle for the two parties. In Rohtak, BJP’s Manmohan Goyal, a former Congressman, is involved in a direct contest with Congress-supported Sita Ram Sachdeva, a Punjabi. However, former AIDWA general-secretary and Bhim Awardee Jagmati Sangwan, the CPI (M) candidate supported by the Left parties, the Aam Aadmi Party and several social organisations, could emerge as a dark horse for the coveted post. The INLD-Bahujan Samaj Party alliance candidate Sanchit Nandal is the State’s youngest candidate for the position of Mayor from Rohtak.In Karnal, BJP candidate Renu Bala Gupta, a Baniya, is pitted against united Opposition with Congress leaders supporting the INLD-BSP’s alliance candidate Asha Wadhwa, a Punjabi, in a contest where caste seems to have taken precedence over the local issues.In Hisar, Rekha Aren, supported by former Congress Minister Savitri Jindal and Kuldeep Bishnoi, is engaged in a direct contest with BJP’s Gautam Sardana. Similarly, BJP’s Madan Chauhan is giving a tough fight to the Congressbacked Rakesh Sharma in a triangular fight involving INLD’s Sandeep Goyal in Yamunanagar.
Delhi University provides admission to students excelling not only academically but also to those good in sports. Each college is required to reserve minimum 5 per cent sports quota in all undergraduate courses although the college may decide the actual number of seats offered under the quota. Students are selected for admission via sports quota in two ways: direct admission or through sports trials.Sports Quota Admissions:I. Direct admission by the college without trialsSports persons who have participated / represented the country in the following competition(s) are eligible for direct admission to the college without any trial. Olympic Games by IOCWorld Championships under International Sports Federations (IOA and / or MYAS recognised / affiliated games)Asian Games by Olympic Council of AsiaAsian Championships organized International Federation of Concerned game (recognised / affiliated by MYAS and / or IOA)Commonwealth Games, S.A.F. Games and Afro-Asian Games.Paralympic Games (recognised/affiliated by IOC and / or MYAS)II. Admission based on Sports TrialsCandidates can also be selected for admission through the sports quota through a 50-marks sports trial test which includes skill test, game performance test, game specific fitness, and fundamentals of the game / sport etc. Minimum 18 marks are required in the sports trial for admission under sports quota. Aspirants need to clear any two of the following fitness tests:1. Strength: Standing broad Jump: 1.65 metres for Men and 1.15 metres for women2. Endurance: 1,000 metres run/walk: 5 minutes for men, 6 minutes for women3. Speed 50 metres dash: 8 seconds for men, 9 seconds for womenOR If a student is applying under sports quota for chess, Archery or shooting he/she will need to qualify for any one of following fitness tests: 1. 50-metre dash2. Standing broad jump3. 1,000 m race/walkadvertisementAspirants are advised to contact the concerned college for details.
Touch Football Australia (TFA) is proud to announce a reunion of the World Champion Australian Representatives from the 1999 World Cup. The reunion will be held in conjunction with the upcoming Trans Tasman series to be held from the 24th – 26th April 2009 in Wollongong, NSW. It has been 10 years since the very successful 1999 World Cup campaign which was held in Sydney, and in celebration of a Trans Tasman Series coming to Australia for the first time in 6 years. It is a great opportunity to celebrate the achievements of both the present players and those who have pulled on the green and gold before them. Since the release of the initial information, there has been expressed interest from other past Australian Representatives from earlier and since campaigns who would also like to be included. TFA extends a warm invitation not only specifically to the 1999 World Cup members, but also any member of past representative teams from any campaign to attend and celebrate the current Australian Contingent.We will provide a special reunion package available for members to book with TFA, which will include the Reunion VIP Cocktail Function during the Saturday Night Test Series including a 2 hour drinks package, commemorative gift and free entry to the Trans Tasman games to be held at WIN Stadium for $50 inc GST. Reunion attendees are also welcome to attend the ANZAC Ceremony if they wish and can also purchase tickets to attend the Australian Team Function on the Sunday early afternoon as well as the Thursday Trans Tasman Civic Reception dinner. While hosting the Trans Tasman Series here in Australia, TFA are focused on the Australian aspects of the 1999 World Cup, but are also extending an open invitation to other participants of the event including Federation of International Touch Referees, New Zealand Team Members and participants from any other Nation. We also extend a warm invitation to the friends/ family and partners of the 1999 World Cup who are also permitted to purchase Reunion Tickets.At this early stage of promotion we have had exciting feedback that both the Women’s Open and Men’s Open teams from the 1999 Campaign will have the majority of their members in attendance. To arrange the purchase of reunion tickets, and get on the emailing list for more information, like ‘reunion friendly accommodation’, please contact Chrissy Brockway on 02 6212 2800 and firstname.lastname@example.org Related Filesflyer-pdf
Harry Winks: Spurs players behind the managerby Paul Vegas18 days agoSend to a friendShare the loveHarry Winks says Tottenham Hotspur’s squad are sticking by Mauricio Pochettino.The Argentine is under pressure to keep his job after Saturday’s loss to Brighton, leaving the club with a record of three wins from 11 games this season.But Winks believes Pochettino has the complete support of his playing squad.”He’s our manager. He’s been fantastic ever since he’s been at the club and taken the club to new heights,” Winks said.”At the moment we are going through a bit of a rough patch. That happens in football, every club goes through it.”It’s important we stand up as men and get through these dark times, and hopefully we can get back to playing well and winning as much as we can.”In the last six years we have come such a long way, we have become a title-challenging side. But we haven’t shown it this season, we have only shown it in parts.”In certain games we have played really well but for the majority of this season we haven’t shown what we are about.”It’s important we look back on it and reflect so realise it’s not been good enough, no excuses. The only way we can put it right is back in training and the next match.” About the authorPaul VegasShare the loveHave your say
The Coaches Poll received a major shakeup, and the AP promises to do the same after a wild week five, but neither replaced the nation’s top team. ESPN’s College Football Power Rankings, however, did just that. After struggling at Indiana, Ohio State falls a few spots, replaced at the top by Utah, which continues to benefit from its dominant Oregon win. The Big 12 powers Baylor and TCU also look good, after both put up points in bunches on Saturday.Here are the full rankings: Twitter/@UtesEquipment1. Utah2. TCU3. Baylor4. Ohio State5. Clemson6. LSU7. Michigan State8. OklahomaT-9. Texas A&MT-9. Florida11. Alabama12. Northwestern13. Florida State14. Notre Dame15. Stanford16. Ole Miss17. MichiganT-18. UCLAT-18. USC20. Georgia21. Oklahoma State22. Iowa23. Cal24. Boise StateT-25. TempleT-25. HoustonHow did ESPN do this week, fans?
Under the National Identification System (NIDS) children will be registered at birth and given a National Identification Number (NIN) and an identification card at age six. Story Highlights Under the National Identification System (NIDS) children will be registered at birth and given a National Identification Number (NIN) and an identification card at age six.Chief Technical Director in the Office of the Prime Minister, Jacqueline Lynch-Stewart, noted that all children six years old and above will be required to have a national identification card. The first card will be issued free of cost to parents or guardians.“Section 25.2 of the (National Identification and Registration) law provides for the national ID to be free of cost, so there is going to be no cost to the citizen to get the national ID. When you get your national ID, you’re going to be receiving two things. You’re getting a national identification number, which we refer to as the NIN and you get your national identification card,” Mrs. Lynch-Stewart said.She was speaking at a NIDS town hall meeting held recently at the University of the West Indies (UWI), Mona campus.National identification cards will also have renewal dates based on the age of the holder.“We’re going to have to renew our cards, so between ages zero and 18, the requirement is that you renew every five years. From 18 to 60 years, the renewal period is every 10 years and for those over 60 years, it will be every 15 years. The younger you are the more often you have to renew because your facial image changes, so that’s the basis on which that decision was taken,” she explained.Following the implementation of NIDS, Jamaican citizens and legal residents will require only one ID to access government and private-sector services. This is to ensure the safety and the security of their identities, boost efficiency and reduce costs, while improving quality of life.The roll-out of NIDS is slated to begin with a pilot project in January 2019, focusing on civil servants. The layered roll-out and management of the NIDS will be handled by a new agency, the National Identification and Registration Authority (NIRA), which will replace the Registrar General’s Department (RGD) and provide more enhanced services. Chief Technical Director in the Office of the Prime Minister, Jacqueline Lynch-Stewart, noted that all children six years old and above will be required to have a national identification card. The first card will be issued free of cost to parents or guardians. “Section 25.2 of the (National Identification and Registration) law provides for the national ID to be free of cost, so there is going to be no cost to the citizen to get the national ID. When you get your national ID, you’re going to be receiving two things. You’re getting a national identification number, which we refer to as the NIN and you get your national identification card,” Mrs. Lynch-Stewart said.
APTN National NewsIndigenous Affairs Minister Carolyn Bennett says the current Inquiry has the tools and the people in place to fulfill the mandate of the embattled National Inquiry into Missing and Murdered Indigenous Women.“First I would like to thank Ms. Poitras for her work,” said Bennett. “I am sure she will continue to be a defender of indigenous issues and continue to look into the tragedy of missing Indigenous women and girls. She has made great sacrifices and contributions and we thank her for that.”Bennett, fresh off a meeting with the Inquiry’s commissioners, faced the media shortly after news broke that Commissioner Marilyn Poitras issued her letter of resignation.In her letter to Prime Minister Justin Trudeau, Poitras said she could not work within the structure of the inquiry.“It is clear to me that I am unable to perform my duties as a Commissioner with the process designed in its current structure,” wrote Poitras. “I believe the Terms of Reference could be used to find solutions to do this work and I wish you the best in moving that agenda forward.”Read Marilyn Poitras resignation letter here: Marilyn PoitrasBennett met with the Inquiry July 10 to discuss the concerns appearing in public about the communications issues, and the commission’s plan to execute its mandate.“We had a very productive meeting and I can assure the families that the commissioners are continuing to work diligently and they are trying to find solutions to end violence against Indigenous women and girls,” said Bennett.Marilyn PoitrasSince being announced in the fall of 2016, the Inquiry has suffered through several resignations and firings.February 4, Michael Hutchinson, communications director is let goJune 2, Sue Montgomery, senior communications offiicer resigns.June 15, Tanya Kappo, manager of communications resigns. June 15, Chantale Courcy, director of operations resigns.June 30, Michèle Moreau, inquiry executive director resigns. Her last day is July 21.But none as big as Poitras, a commissioner walking away from the Inquiry because of the way the process is designed.The first response came from the Assembly of First Nations.“We’re very concerned about this resignation because the work of the National Inquiry is too important and we want to see it succeed for the families,” said National Chief Perry Bellegarde in a statement. “The AFN has made many offers to help the Inquiry connect with all those affected by this tragedy because a ‘families first’ approach is essential to the Inquiry’s success. As part of that effort, we’ve invited the Commissioners to speak at our upcoming AFN Annual General Assembly to share information, and we anticipate a positive response.”The Native Women’s Association of Canada is calling on the commission to restructure.“This process has lost its focus on those who are impacted by the loss of loved ones and on honouring the lives of Indigenous women,” said NWAC Interim President Francyne D. Joe in a statement. “The departure of a Commissioner, immediately following the resignation of the Executive Director, is a clear indication that there are unresolved structural issues occurring at the highest levels. It’s time to give families the barrier-free process they deserve.”But Bennett isn’t going to intervene in the work of the commissioners.“The commission is totally independent and it is their decision to make in terms of finding processes that will help them achieve their mandate.”“I was impressed by the work plan that they have, the research plan … they really do have the vision, the values, the tools and the plan to to get this work done. There is no question, that we all agree, communication has been an issue. And that they have got to do a better job at communicating their vision, their plan, values and the way that they’re going to get this work done.Successful commissions bring Canadians with them as they go – and this has not been done to date.”Bennett said she will not appoint a new commissioner unless she is directed to do so by the inquiry, and if Cabinet approves it.Poitras’ last day is July 15.
In This Issue. * It’s pretty much an all-out assault by the dollar today! * Chinese & Swedish PMI’s are weaker but above 50. * The BOJ’s QE announcement sinks yen! * The Narrowing thing. It’s Tricky! And Now. Today’s A Pfennig For Your Thoughts. China Begins To Take Baby Steps Toward A Convertible Renminbi! Good Day!… And a Marvelous Monday to you! OUCH! Brother am I hurting all over today, as I used muscles yesterday that haven’t been used in a while! We had two semi-large trees fall in the back of our property, down by the creek (probably the work of beavers!), and for the last two weeks I had been cutting it up, a little bit at a time, so as not to wear myself out, but yesterday, I had the help of Jerry and then neighbor, Paul, and we banged out the whole shootin’ match! So, now I have a huge pile of wood ready for splitting. I’ll leave that for Alex to do. (I’ll have a heart attack IF he actually does it! HAHAHAHA!) There’s some BIG news from China to talk about this morning, but first, I need to tell you that the dollar is in an all-out assault mood this morning, with 95% of the currencies, including Gold, looking at losses this morning, and the few without losses are flat, but could turn negative in a NY Minute, so it’s all about the dollar this morning, especially if you check out the cable news who are dropping the ball BIG Time on the China news, but that’s their problem, not mine, for I’m going to give it to you right here! This weekend, the Chinese Gov’t announced that the renminbi will become directly convertible with the Singapore dollar, effective this morning. Folks, I don’t care if the Cable News or The Wall Street Journal (WSJ) or Reuters don’t care to talk about this development, it’s HUGE news any way you look at it! I saw this, and said to myself, “Self, is this the first step in a freely convertible renminbi? Why, I do believe that’s what’s going on here, Self!” I told you all previously that I thought that China was really stepping up the pace of their move to replace the dollar as the reserve currency, and this just confirms that thought! I see this going along much like China went about gaining a wider distribution of their currency by signing currency swap agreements with one country at a time. I see them doing the same type of one country at a time, move with convertibility of their currency, until it’s fully convertible all over the world. This won’t happen overnight folks. The first currency swap agreements were signed in 2008. There was other news from China over the weekend, as the latest Gov’t version of the Manufacturing Index (PMI) printed, and was not as strong as I thought it would be. The index number was still safely above the 50 level at 50.8, but a number north of 51 was expected, and so, it was more of the moving along slowly for the Chinese economy, but not stopping for rest, just moving along slowly. Sort of like me in the backyard yesterday! HA! And since the dollar was taking liberties against most currencies overnight, the Chinese decided to weaken the renminbi / yuan, using the weaker than expected PMI as their excuse for doing so. They didn’t make a Big deal out of the direct convertibility of the renminbi with Singapore, as I’m sure they would have liked for no one to notice. The U.S. news agencies complied, eh? And get this. The man who is the chief executive officer (CEO) of the world’s largest sovereign wealth fund, Yngve Slynstad, says that even though assets from China only make up about 1.5% of the $860 Billion Norwegian Wealth Fund’s portfolio, he believes that almost all investment decisions are affected by what happens in China. He didn’t say the U.S., Japan, the Eurozone, the U.K., he said China. Makes you sit back and think about all the things I’ve told you regarding China over the years, they all seem to be coming true, don’t they? Well. So, it’s all about the all-out assault by the dollar today. UGH! That’s crazy, I don’t care what side of the fence you’re on, how in the world can traders and investors take the dollar to this all-out assault mode today? I explained last week how QE 1, 2 & 3, isn’t going to end quietly, that the Fed had announced that when bonds that they bought and hold, mature, they will take the proceeds and invest in another bond. Thus keeping the Fed’s balance sheet at more than $4 Trillion, and allowing them to keep their hands in the bond markets’ cookie jar. But that’s not the only thing on my mind today regarding the currencies, so, let’s open this can of beans and see what’s inside, eh? Well, last week the Bank of Japan (BOJ) Gov. Kuroda, really opened Pandora’s Box of currency losses for the yen, and the bleeding hasn’t stopped yet. On Friday, we saw a whole 2 figure loss in yen, and overnight we’ve seen another 2 whole figure loss in yen. I was talking with a trader friend on Friday, and I told her that when I started in this business 22 years ago, yen was 124. And the way things were going, it wouldn’t surprise me to see it there again, with the way the Japanese Gov’t and BOJ keep pushing it downward. I find this downward move in yen to be quite interesting, as it wasn’t that long ago, that people kept talking about what a miracle it was that Japan had twin deficits, (Current and National Gov’t) but yet the yen was still strong, and why couldn’t that be the same for the dollar? Uh-Oh. Looks like that “miracle” has been shattered, just like the one here in the U.S. with our twin deficits and a stronger currency will be eventually. It takes a while for the markets to get out of bad habits and wake up to smell the coffee, but eventually they do, and when they do, they go at it with a vengeance, like they are doing with yen right now. There comes a time when the markets realize what I’ve been telling you for a while now, that Japan is a basket case. Of course I’ve not been a fan of what’s going on with the twin deficits in the U.S., but we’re not here with yen, just yet. But also remember what I’ve been telling you for quite a few years now. That the U.S. is turning Japanese, yes, I really think so. I loved this quote from David Stockman. He said that “The BOJ had jumped the shark tank and now the Machines, Madmen and Morons are Raging”. Whoa, there David, I would love to say those things, but I get my hands slapped, but as long as you say them, we’re good to go! So, keep the quotables coming! The Aussie and New Zealand dollars (A$ and kiwi respectively) are both on the downswing this morning. Last week it was the interest rate differentials helping the currencies like A$ and kiwi, real, ruble, and rand, but that tricky wording that the Fed used in their press conference on Wednesday last week, got the dollar bugs thinking that these interest rate differentials will soon be narrowed. One of my wife’s fave songs, is (to me a strange choice, but to each his own) the song: It’s Tricky. You know, It’s Tricky to rock a rhyme, to rock a rhyme that’s right on time, It’s Tricky. And that’s how I feel about the stuff going on in these two currencies. The key here is that the dollar bugs think the interest rate differential will be “narrowing” soon. Hmmm. That does NOT mean that the interest rate differential that the currency owns over the dollar is going away, it simply means it could be getting “narrowed”, and for that reason alone, the dollar bugs are all over the place now? It’s Tricky folks. The 1.5% rate hike that the Central Bank of Russia (CBR), pulled off last week, helped the ruble one day, and since then it has been of no help, as the ruble continues to slide further and further downward. There’s a fragile peace in Russia and Ukraine and winter is beginning in the region. I just don’t see how the fragile peace that’s there now will be threatened, as the bitter cold, snow, and winter weather sets in. In fact, I would think that given the weather, the fragile peace could grow stronger. I’m grasping at straws here folks, as I’m looking for something, anything that would wrap a tourniquet around the ruble. Shoot Rudy, if adding 1.5% in a rate hike can’t give the ruble any more love than a one day and done shot, you can see why I’m grasping at straws. The Swedish krona is flat today, which is strange given all the bad news that has come out of Sweden lately, and with the dollar taking liberties against the currencies. We also saw Sweden’s PMI (manufacturing index) drop from 52.5 in September to 52.1 in October. Sure it was still well over the line in the sand number of 50, but it did weaken, which should not have been a reason for the krona to buck the dollar’s all-out assault today. But it is, what it is, and I shouldn’t look a gift horse in the mouth, eh? The Brazilian real is opening up this morning with a bee in its bonnet. So, it’s nice to see that the “Narrowing rate differential” talk for the dollar isn’t carrying any weight here in Brazil. Recall that the Brazilian Central Bank (BCB) hike rates last week, and I went out on a limb and said that I expected rate hikes at the next 4 meetings, and I guess the markets are figuring that out about now too, so the real bucks the trend of the dollar’s all-out assault this morning. I’m seeing a data print flash on the Bloomberg this morning. Apparently, Honda, Rocktober Auto Sales were up 5.8%… Unfortunately, the estimates were for an increase of 7.7%… So, 5.8% is nice, but it’s not 7.7%, eh? The U.S. Data Cupboard was gloomy on Friday. Personal Spending fell -.2% in September, disappointing those that thought it would increase .2%, and those that thought August’s .5% was the beginning of a strong economy, after printing flat in July. As long as personal consumption / spending is responsible for over 70% of GDP, this is not good news. And one could actually say that since August was a “back to school” month, with lots of spending going on, that the 3rd QTR spending was atrocious. I know, I know, long time readers are saying right now, but Chuck. You used to get upset when we spent more than we made, and now that’s no longer a problem, you say we’re not spending enough! Ahhh grasshopper. Yes, I don’t like it when we spend more than we make, and looking at the Personal Income data, it certainly wasn’t very good either, rising .2% in September. But, here’s the kicker. Personal Income should be much higher and each month should be more than the Spending component. except maybe in August, December, and April. So, the data is all whacked-out as far as I’m concerned, and right now the problem, as the markets see it is, there’s not enough spending for the economy to grow, which goes along well with the disappointing Retail Sales data we’ve also seen lately. And last Friday (Halloween), I told you that Gold had fallen below $1,200. Well the slide continues this morning, and Silver has a $16 handle, which is better than on Friday when it was a $15 handle.. I have to say that these downward drops in the commodity prices seem to be overdone, by quite a bit. Usually when you see stuff like this, you see a bounce-back. We are well below the production costs of Gold, and remember the story I told you a week or so ago, about the head of the largest Silver producer, saying he was not selling the Silver he produces until he breaks the paper trading manipulators? Well, eventually a there has to be a shortage of supply problem. Geez I would love for his plan to work, now that would be something, and I wouldn’t nominate him for leader of the free world! HA! There is some good news in the metals this morning though, as Platinum and Palladium are booking gains VS the dollar. These two have gotten caught up in the Gold price drop, and they should have been. They are dual metals with investment and industrial uses, and shouldn’t get brought down when the price manipulators go after Gold. Well, that’s my thought and I’m sticking to it! Before I head to the Big Finish today. I wanted to point out what a great job, my longtime friend, and Big Boss, Frank Trotter, did with the Sunday Pfennig & Pfriends piece yesterday. He laid out the fallacy of a cheap currency. Something I’ve tried to get across in these pages for many a year to you dear readers, but leave it to the Big Boss, to drive the point home, in stunning style. For What It’s Worth. Well, this is more or less more of me here. Frank was talking about the cheap currency fallacy yesterday, and that got me thinking about the cheap Oil price fallacy. Sure, everyone is jumping up and clicking their heals right now because the price of gas at the pumps is dropping. for now. You see there’s a major problem brewing in our Oil shale production. There have been 19 shale rigs that have already gone offline just last week! What you have here is the same thing going on in Gold. The price of Oil has fallen very near below the cost to produce it. Fracking Operations have a cost of $75 a barrel, and this morning, the price of Oil is $80 and change. So, while we were on our way here with something good (cheaper gas prices, from cheaper oil prices), the getting’s not going to last. Then we’ll have to import more Oil and guess what our friends (NOT!) at OPEC will do with the price of Oil? So, with just about anything in life, we have to be careful with what we wish for, eh? To Recap. The Big News from China this weekend is being glossed over here in the U.S. because it’s not about the mid-term elections tomorrow! But China announced that beginning today, they will allow direct convertibility of the renminbi with Singapore dollars. Just a first baby step to full convertibility. And what Chuck things is a one-country at a time deal for convertibility of the renminbi. Chinese PMI was weaker but still above 50, and Sweden’s PMI was also weaker but above 50. the U.S. Data Cupboard had some very weak spending data on Friday, so scary for the economy, it deserved to print on Halloween! And Gold continues to slide, and to Chuck it appears to be overdone at this point. Currencies today 11/1/14. American Style: A$ .8715, kiwi .7755, C$ .8860, euro 1.2495, sterling 1.6005, Swiss $1.0365, . European Style: rand 11.0330, krone 6.7725, SEK 7.3810, forint 247.05, zloty 3.3755, koruna 22.2430, RUB 43.35, yen 113.70, sing 1.2890, HKD 7.7550, INR 61.40, China 6.1525, pesos 13.49, BRL 2.4750, Dollar Index 87.18, Oil $80.70, 10-year 2.32%, Silver $16.12, Platinum $ 1,242.00, Palladium $807.50, and Gold. $1,171.77 That’s it for today. Whew! Our lambs, I mean Rams, pulled out a win in a crazy ending to the game yesterday. And my beloved Missouri Tigers won on Saturday, moving them into first place in the SEC East, as Florida upset Georgia at EverBank Field in Jacksonville! I didn’t have many Trick-or-Treaters on Friday night, bummer! And it was pretty chilly sitting outside, by myself waiting for them to come, but very few made it up the driveway to the front porch. Little Delaney Grace was Anna from Frozen, and her little brother was Olaf, the snowman from the same movie. Cute as can be! And Braden finally got with the program and put on his Batman costume, but refused to wear the cape! (hey, he had to win something with that fight!) All of them were very cute! I hope your Halloween was grand. Went to breakfast with my good friend Duane on Saturday and ran into our old colleague, John Kaupisch! He looked great, as retirement has agreed with him. He said, he “highly recommends retirement”. Both Duane and Chuck laughed because we were both talking about that before John walked up to us! Alrighty then, I hope I didn’t miss any birthdays or anything like that. it’s time to get this out the door. I hope you have a Marvelous Monday! Chuck Butler President EverBank World Markets